Jade Biosciences, Inc. (NASDAQ:JBIO) Sees Significant Decrease in Short Interest

Jade Biosciences, Inc. (NASDAQ:JBIO) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totaling 1,345,619 shares, a drop of 13.0% from the December 31st total of 1,546,739 shares. Based on an average daily volume of 314,286 shares, the short-interest ratio is presently 4.3 days. Currently, 3.6% of the shares of the stock are sold short. Currently, 3.6% of the shares of the stock are sold short. Based on an average daily volume of 314,286 shares, the short-interest ratio is presently 4.3 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JBIO. Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. HC Wainwright initiated coverage on shares of Jade Biosciences in a report on Wednesday, January 7th. They set a “buy” rating and a $25.00 price objective for the company. BTIG Research initiated coverage on shares of Jade Biosciences in a research note on Thursday, October 9th. They issued a “buy” rating and a $28.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Finally, Guggenheim lifted their price objective on shares of Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Jade Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

Institutional Investors Weigh In On Jade Biosciences

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC purchased a new stake in shares of Jade Biosciences in the 2nd quarter valued at about $6,759,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Jade Biosciences during the 2nd quarter valued at $71,000. Intech Investment Management LLC bought a new position in shares of Jade Biosciences during the second quarter valued at about $230,000. Versant Venture Management LLC bought a new position in shares of Jade Biosciences during the second quarter valued at about $15,243,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Jade Biosciences during the second quarter worth about $154,000.

Jade Biosciences Price Performance

Shares of NASDAQ JBIO opened at $16.65 on Tuesday. The firm has a market cap of $821.01 million, a price-to-earnings ratio of -1.49 and a beta of 1.02. Jade Biosciences has a one year low of $6.57 and a one year high of $100.10. The stock’s fifty day moving average price is $14.68 and its two-hundred day moving average price is $10.79.

Jade Biosciences (NASDAQ:JBIO) last released its earnings results on Friday, November 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.09.

Jade Biosciences Company Profile

Jade Biosciences, Inc is a clinical‐stage biotechnology company focused on the discovery and development of novel therapeutics for inflammatory skin diseases and chronic itch. Leveraging a small‐molecule platform, the company seeks to address significant unmet needs in dermatology by targeting key pathways involved in pruritus and skin inflammation. Its research efforts are centered on identifying and advancing molecules that can modulate receptor activity in the skin, with a goal of improving safety and efficacy compared to existing treatments.

The company’s lead programs are built around proprietary compounds designed to penetrate the epidermal barrier and selectively inhibit molecular drivers of itch and inflammation.